2023-08-22T12:36:13-04:00 2022-12-31 042929980 BURKHART PIZZANELLI PC 201 PARK AVE SUITE 2 WEST SPRINGFIELD MA 010891597 990 2022-01-01 830485169 THE MIDAS COLLABORATIVE INC MIDA 6175323916 2 OLIVER STREET 802 BOSTON MA 02109 MOLLY GOODMAN EXECUTIVE DIRECTOR 6175323916 2023-08-21 MOLLY GOODMAN 999009999 true JULIE QUINK P01068729 4137349040 2023-08-21 2022 2023-04-26 12:10:37Z MOLLY GOODMAN 2 OLIVER STREET 802 BOSTON MA 02109 643762 false X WWW.MIDASCOLLAB.ORG X 2007 MA TO FACILITATE ASSET DEVELOPMENT AND PROTECTION OF LOW-INCOME FAMILIES IN A MANNER THAT IS PEER SUPPORTED, PRACTITIONER TESTED AND COMMUNITY BUILDING 13 13 6 14 0 126516 467695 110689 152653 119 58 7118 237324 627524 0 0 162559 235057 0 2932 54284 214739 216843 449796 20481 177728 673013 1003033 480979 633271 192034 369762 X TO COORDINATE A STATEWIDE COLLABORATIVE OF COMMUNITY-BASED, NOT-FOR-PROFIT ORGANIZATIONS THAT FACILITATE THE ASSET DEVELOPMENT OF LOW-INCOME FAMILIES, THROUGH INCREASED FINANCIAL MANAGEMENT SKILLS, COMMUNITY AND PEER SUPPORT, AND ACCESS TO WEALTH BUILDING VEHICLES. false false 325226 152653 BUILDING SAVINGS AND INVESTMENT: MIDAS OPERATES MULTIPLE MATCHED SAVINGS PROGRAMS IN PARTNERSHIP WITH MEMBER COMMUNITY ORGANIZATIONS ACROSS MASSACHUSETTS. 9 PARTNER SITES ENROLLED 574 PARTICIPANTS WHO ATTENDED WORKSHOPS AND COUNSELING SESSIONS TO BUILD THEIR FINANCIAL SKILLS AND CAPABILITIES. 151 MATCH SAVINGS PROGRAM PARTICIPANTS GRADUATED IN 2022, MAKING INVESTMENTS IN HOMES, HIGHER EDUCATION PROGRAMS, SMALL BUSINESSES, AND OTHER ASSETS SUCH AS CARS, COMPUTERS, TEXTBOOKS, AND EMERGENCY SAVINGS FUNDS. 73258 DELIVERING FINANCIAL EDUCATION AND POLICY: MIDAS PROVIDED TRAINING TO STAFF FROM MEMBER COMMUNITY ORGANIZATIONS ACROSS THE STATE THAT SERVE LOW AND MODERATE INCOME RESIDENTS, TO VOLUNTEERS AND MEMBERS OF THE PUBLIC WHO PARTICIPATE IN MIDAS MASSSAVES INITATIVE, AND TO EDUCATORS AND POLICY MAKERS AT THE ANNUAL FINANCIAL EDUCATION SUMMIT TRAINING. TOPICS INCLUDED STUDENT DEBT, ASSET BUILDING AND SAVINGS FINANCIAL CAPABILITY FOR OLDER ADULTS AND FINANCIAL HEALTH AND WELLNESS AMONG VARIOUS AGES AND STAGES PERFORMING OUTREACH AND ADVOCACY TO ADDRESS INCOME INEQUALITY: MIDAS PARTICIPATED IN POLICY COALITIONS AND ENGAGED IN DISCUSSIONS AT THE STATE LEVEL ON TOPICS SUCH AS CONSUMER PROTECTION, FAIRNESS IN DEBT COLLECTION PRACTICES, FINANCIAL LITERACY AND EDUCATION, ASSET BUILDING AND TAX CREDIT REFORM. MIDAS REPRESENTED MASSACHUSETTS IN THE NATIONAL CONVERSATION OF INCOME INEQUALITY, WEALTH BUILDING AND FINANCIAL CAPABILITY. 398484 true true false true false false false false false false true false false true true true true false false false false false false false true false false false false false false false false false false false false false false false false false false false false false false true 4 0 6 true false false false false false false false false X 13 13 false true false false true true true true true false false true true true true true false true false false MA X X MOLLY GOODMAN 6175323916 2 OLIVER STREET 802 BOSTON MA 02109 X ANTHONINA FENELON SECRETARY 1.00 X 0 0 0 DEBRA TOBIN CHAIR 1.00 X 0 0 0 SARA GARRITY-GENTILE DIRECTOR 1.00 X 0 0 0 GUL YANMAZ-KARSLIGIL DIRECTOR 1.00 X 0 0 0 SANDEE SIMSHAUSER DIRECTOR 1.00 X 0 0 0 CONNIE O'HARE DIRECTOR 1.00 X 0 0 0 NATASHA ELDRIDGE DIRECTOR 1.00 X 0 0 0 SELOM AZUMA DIRECTOR 1.00 X 0 0 0 ALEX MELIKAN DIRECTOR 1.00 X 0 0 0 JONA MARASHI TREASURER 1.00 X 0 0 0 LAURA MCLAUGHLIN DIRECTOR 1.00 X 0 0 0 DAN MATLOFF DIRECTOR 1.00 X 0 0 0 LISA MENELLY DIRECTOR 1.00 X 0 0 0 ROBERT TORRES DIRECTOR 1.00 X 0 0 0 EMILIO DORCELY DIRECTOR 1.00 X 0 0 0 MICHAEL ANDELMAN DIRECTOR 1.00 X 0 0 0 false false false 8433 1864 346991 110407 467695 PROGRAM SERVICE FEES - MSP 611710 152653 152653 152653 58 58 23356 16238 7118 627524 152653 58 X 96977 82430 13577 970 107112 91045 14995 1072 7385 6277 1034 74 23583 20046 3301 236 5000 5000 51416 43703 7198 515 290 247 40 3 1200 1020 168 12 38 38 1020 867 143 10 2358 2358 MASSSAVES BOOST 149370 149370 MISCELLANEOUS 3452 2935 483 34 COMMUNICATIONS 595 506 83 6 449796 398484 48380 2932 407626 192488 191021 13950 67700 64868 46509 4704 5540 3059 1785 2294 1274 179571 498501 673013 1003033 158310 114493 102821 219848 518778 480979 633271 X 184463 369762 7571 192034 369762 673013 1003033 177728 X false true X true X 122074 87963 117228 83050 467695 878010 122074 87963 117228 83050 467695 878010 878010 562 362 119 58 1101 879111 176009 0.99870 0.67520 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 5052 5052 460982 466034 93207 23302 36883 34918 43369 93207 208377 312566 2283 2820 3441 5052 13596 9221 8730 10842 23302 52095 78143 3441 5052 8493 3059 1785 1274 1274 FUNDS HELD FOR OTHERS 498501 498501 FUNDS HELD FOR OTHERS 498501 DUE TO FISCAL AGENT 20277 518778 X 627524 627524 627524 449796 449796 449796 SCHEDULE D, PAGE 3, PART X THE PROJECT IS A NOT-FOR-PROFIT CORPORATION INCORPORATED AS A 501(C)(3) ORGANIZATION AND IS CURRENTLY EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(A) OF THE INTERNAL REVENUE CODE. MANAGEMENT HAS EVALUATED SIGNIFICANT TAX POSITIONS AGAINST THE CRITERIA ESTABLISHED BY PROFESSIONAL STANDARDS, INCLUDING THE PROJECT'S TAX EXEMPT STATUS, AND BELIEVES THERE ARE NO SUCH TAX POSITIONS REQUIRING ACCOUNTING RECOGNITION. THE PROJECT'S INFORMATIONAL RETURNS ARE SUBJECT TO EXAMINATION BY TAXING AUTHORITIES FOR ALL YEARS ENDING ON OR AFTER DECEMBER 31, 2019. MATCH GALA 23356 23356 16238 23356 23356 16238 16238 7118 FORM 990 - ORGANIZATION'S MISSION TO COORDINATE A STATEWIDE COLLABORATIVE OF COMMUNITY-BASED, NOT-FOR-PROFIT ORGANIZATIONS THAT FACILITATE THE ASSET DEVELOPMENT OF LOW-INCOME FAMILIES, THROUGH INCREASED FINANCIAL MANAGEMENT SKILLS, COMMUNITY AND PEER SUPPORT, AND ACCESS TO WEALTH BUILDING VEHICLES. FORM 990, PAGE 2, PART III, LINE 4B DELIVERING FINANCIAL EDUCATION AND POLICY: MIDAS PROVIDED TRAINING TO STAFF FROM MEMBER COMMUNITY ORGANIZATIONS ACROSS THE STATE THAT SERVE LOW AND MODERATE INCOME RESIDENTS, TO VOLUNTEERS AND MEMBERS OF THE PUBLIC WHO PARTICIPATE IN MIDAS MASSSAVES INITATIVE, AND TO EDUCATORS AND POLICY MAKERS AT THE ANNUAL FINANCIAL EDUCATION SUMMIT TRAINING. TOPICS INCLUDED STUDENT DEBT, ASSET BUILDING AND SAVINGS FINANCIAL CAPABILITY FOR OLDER ADULTS AND FINANCIAL HEALTH AND WELLNESS AMONG VARIOUS AGES AND STAGES PERFORMING OUTREACH AND ADVOCACY TO ADDRESS INCOME INEQUALITY: MIDAS PARTICIPATED IN POLICY COALITIONS AND ENGAGED IN DISCUSSIONS AT THE STATE LEVEL ON TOPICS SUCH AS CONSUMER PROTECTION, FAIRNESS IN DEBT COLLECTION PRACTICES, FINANCIAL LITERACY AND EDUCATION, ASSET BUILDING AND TAX CREDIT REFORM. MIDAS REPRESENTED MASSACHUSETTS IN THE NATIONAL CONVERSATION OF INCOME INEQUALITY, WEALTH BUILDING AND FINANCIAL CAPABILITY. FORM 990, PAGE 6, PART VI, LINE 3 FINANCIAL MANAGEMENT SERVICES AND PAYROLL AND BENEFIT PROCESSING PROVIDED BY ALLSTON BRIGHTON COMMUNITY DEVELOPMENT CORPORATION FOR A FEE, FOR PART OF CURRENT YEAR. ALL EXPENSES REIMBRURSEDD TO ALLSTON BRIGHTON COMMUNITY DEVELOPMENT CORPORATION. FORM 990, PAGE 6, PART VI, LINE 6 THE ORGANIZATION HAS TWO CLASSES OF MEMBERSHIP: FULL MEMBERS AND AFFILIATE MEMBERS. ADMISSION AS A FULL OR AFFILIATE MEMBER REQUIRES NOMINATION BY EITHER AN EXISTING FULL MEMBER IN GOOD STANDING OR AN OFFICER OF THE ORGANIZATION AND AN AFFIRMATIVE VOTE OF THE BOARD OF DIRECTORS. FULL MEMBERSHIP IS AVAILABLE ONLY TO ORGANIZATIONS INVOLVED IN PROMTING THE ACCUMULATION OF ASSETS BY, OR WORKING TO IMPROVE THE FINANCIAL STABILITY OR SECURITY FOR LOW OR MODERATE INCOME PERSONS. AFFILIATE MEMBERSHIP IS AVAILABLE ONLY TO PERSONS NOT EMPLOYED OR OTHER REPRESENTING ANY FULL MEMBER. FORM 990, PAGE 6, PART VI, LINE 7A NEW MEMBERS ARE ELECTED BY THE BOARD OF DIRECTORS. FORM 990, PAGE 6, PART VI, LINE 7B FULL MEMBERS HAVE VOTING RIGHTS. EACH FULL MEMBER IS ENTITLED TO CAST ONE VOTE ON ANY MATTER BROUGHT TO THE FULL MEMBERSHIP FOR VOTE. AFFILIATE MEMBERS DO NOT HAVE VOTING RIGHTS, BUT ARE ENTITLED TO NOTICE OF, TO BE PRESENT AND TO PARTICIPATE IN ALL MEETINGS OF FULL MEMBERS. ANY BYLAW ADOPTED BY THE DIRECTORS MAY BE AMENDED OR REPEALED BY THE AFFIRMATIVE VOTE OF THE FULL MEMBERS. FORM 990, PAGE 6, PART VI, LINE 11B IRS FORM 990 IS REVIEWED WITH THE PREPARER BY THE MANAGEMENT SERVICES PERSONNEL AND THEN CIRUCLATED TO THE BOARD MEMBERS PRIOR TO SUBMISSION. FORM 990, PAGE 6, PART VI, LINE 12C ANNUAL DISCLOSURE OF INTERESTS PROVIDED AS PART OF THE ANNUAL FINANCIAL STATEMENT AND TAX PREPARATION PROCEESS. FORM 990, PAGE 6, PART VI, LINE 15A EXECUTIVE COMPENSATION IS REVIEWED ANNUALLY AS PART OF THE BUDGET PROCESS. FORM 990, PAGE 6, PART VI, LINE 19 GOVERNING DOCUMENTS PROVIDED UPON WRITTEN REQUEST. FORM 990, PART IX, LINE 11G CONSULTANTS 22,479 5,245 375 CONSULTANTS 9,366 0 0 OTHER PROFESSIONAL SERVICES 3,488 0 0 OTHER PROFESSIONAL SERVICES 8,370 1,953 140 TOTAL 43,703 7,198 515